iLoan Calc is a loan simulator application where you can setup your own details

iLoan Calc (Loan calculator)

What is it about?

iLoan Calc is a loan simulator application where you can setup your own details.

App Details

Version

6.0.2

Rating

(220)

Size

15Mb

Genre

Finance

Last updated

September 29, 2018

Release date

September 4, 2009

More info

App Screenshots

App Store Description

iLoan Calc is a loan simulator application where you can setup your own details.You can calculate not only your mortgage but also your car loan or other loans.

[Simple user interface]

It's very simple to use. You can see your loan to be setting up 4 basic entries: Total loan amount, Interest rate, Term and Payment method.

[Detail settings]

Detail can be added as needed. For example, bonus payment, accelerated repayment and so on.

[Loan simulation]

iLoan Calc calculate your loan exactly. If both the repayment start date and the borrowing date are set, daily interest is calculated.

[Comparison]

You can compare between loans with different settings. Moreover, the comparison with/without accelerated repayment is also available. This allows you to check the effect of accelerated repayment easily.

[Notes about calculation]- 5 year rule, 125% ruleAmount of monthly payment is revised once every 5 year when you setup variable interest rate (5 year rule). The maximum amount of payment after the adjustment is 1.25 times more than the original amount (125% rule).

- Accelerated repayment with reducing total term for the bonus paymentIf you accelerate repayment by reducing the total term, the reduced term is every 6 months (if you select twice a year bonus payment) or 12 months (if you select once a year bonus payment).

* iLoan Calc is an application that allows you to calculate various amount of a loan.Please note that the results on this application gives a guideline and does not necessarily correspond to the results of financial institutions.

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